Cancel aircraft orders, China tells domestic airlines

12/10/2008 | Wall Street Journal, The · Herald (Everett, Wash.), The · CNNMoney

In a sign of the deepening downturn facing global aviation, the Chinese government on Tuesday urged its airlines to cancel or postpone deliveries of new aircraft, allow existing leases to expire and convert passenger planes to cargo haulers. The move was viewed as bad news for Boeing Co. and Airbus, which both had high hopes for China's booming aviation sector.

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Wall Street Journal, The · Herald (Everett, Wash.), The · CNNMoney

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